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      Question

      The application made for the initiation of the CIRP to

      the Adjudicating Authority should be accepted or rejected by the Authority within__________________
      A Seven days Correct Answer Incorrect Answer
      B Fourteen days Correct Answer Incorrect Answer
      C Twenty-one days Correct Answer Incorrect Answer
      D Thirty days Correct Answer Incorrect Answer
      E Ninety days Correct Answer Incorrect Answer

      Solution

      IBC  Explanation: The Adjudicating Authority shall, within fourteen days of the receipt of the application, ascertain the existence of a default from the records of an information utility or on the basis of other evidence furnished to it, (Refer to Section 7-10).

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